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News from Simrit-2 buoys Afren

Testing at the Simrit-2 well in Kurdistan proves to be another share price catalyst for Afren.
July 19, 2012

Positive test results from Kurdistan precipitated a 7.5 per cent rise in Afren’s share price to 128p. The Simrit-2 well flowed at a rate of 13,548 barrels of oil a day from three out of 12 zones to be tested. The well has now been drilled to a depth of 3,800 metres, while the total commercial oil intersection has been increased by 12 per cent to 460 metres.

IC TIP: Buy at 128p